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Canadian Mint alternatives

7 Canadian Mint alternatives

Money.ca / Money.ca

Fact Checked: Amy Tokic

🗓️

Updated: December 22, 2023

We adhere to strict standards of editorial integrity to help you make decisions with confidence. Please be aware that some (or all) products and services linked in this article are from our sponsors.

We adhere to strict standards of editorial integrity to help you make decisions with confidence. Please be aware this post may contain links to products from our partners. We may receive a commission for products or services you sign up for through partner links.

Mint alternatives Sign up link
YNAB (You Need A Budget) Get YNAB
PocketSmith Get PocketSmith
Monarch Money ( Now in Canada!) Get Monarch (50% off your first year)
KOHO Get KOHO
Tangerine Get Tangerine
Wally Get Wally
Wealthsimple Get Wealthsimple

Intuit Mint—or simply Mint—was one of the longest running and most established of these apps. On October 31, 2023, Mint announced they will be shutting down on January 1, 2024.

As Intuit announced they are "reimagining Mint as part of Intuit Credit Karma, expanding our collective capabilities to deliver upon our mission of championing financial progress for all," you'll want to find an alternative if you want your monthly budget to stay on track.

Here is a list of six of the best Mint.com alternatives.

1. YNAB (You Need A Budget)

YNAB (pronounced "Why-Nab) may be the go-to Mint Alternative. It's been around for years, with thousands of customers in both the US and Canada, and claim "The average YNABer saves $600 in 2 months and $6,000 their first year" —pretty impressive stats.

Moving from Mint? YNAB makes it easy with comprehensive guides, live workshops, and a friendly support team to walk you through the process.

The powerful app connects to your bank account to help you quickly review your spending, savings, and more. Its ruled by its 4 core principles.

1. Give every dollar a job: Every time you get paid, assign each dollar to an available expense category until there are zero "unemployed" dollars meaning you've budgeted for expenses, savings, and "guilt-free" spending.

2. Embrace your true expenses: Think of sinking funds where you anticipate, rather than react to non-monthly large expenses (e.g. car maintenance) by breaking them down into smaller manageable chunks of monthly savings.

3. Roll with the punches: Hey, sometimes even the best budgeters have a slip. So, if you run out of money in one savings category, don't forgo the latte, just move money from another category (say, "clothing" this month) and avoid the shame or guilt. Spend how you want (or decice not to).

4. Age your money: Thanks to the first 3 rules, you'll know where and how you're spending and will naturally start spending less eventually paying bills with money you earned 30 days ago. You can use that money to start your investment journey.

However, while there is a free 34-day trial period, there is a monthly fee of $14.99 USD or $99 USD for the year. So it's a pricey meatball, but if you can stomach the annual fee, the money you'll earn back (and the education you'll get) is well worth the investment in yourself.

2. PocketSmith

PocketSmith is a budgeting app that helps you make smarter financial decisions and provides you with a better overall overview of your finances. There’s a free version as well as a premium/super paid version. Similar to Mint, the app has built-in notifications to help keep your spending in check.

The app also uses a calendar to keep track of your expenses, differentiating between one-time and recurring expenses. The paid versions have fewer ads and there is better customer service available.

Start your PocketSmith subscription now! Use our Money.ca link and get 50% off a monthly Premium subscription for the first two months.

3. Monarch Money

Monarch Money emerges as a robust personal finance management tool, particularly appealing for those seeking an all-encompassing platform to consolidate their financial data. It distinguishes itself with the ability to connect with over 11,200 financial institutions, allowing users to seamlessly integrate various bank accounts, brokerage accounts, assets and liabilities. Its dashboard offers a sleek interface, providing a comprehensive snapshot of one's finances, including a net worth tracker that syncs with services like Zillow for real estate values and Coinbase for cryptocurrency holdings.

The platform shines with its budgeting tools, financial planning and goal-setting features. Users can create custom categories for expenses, set up transaction rules for automatic categorization and utilize scenario-testing tools to forecast the impact of spending habits on financial goals. Monarch Money also includes an investment tracker, although it's limited to Coinbase for crypto assets, which may be a drawback for diversified crypto investors.

Despite its strengths, Monarch Money isn't without limitations. The free plan is basic, lacking investment tracking and the platform doesn’t support bill payments or money movement, as it operates on read-only data. For full feature access, including unlimited bank connections and investment tracking, users must opt for the premium plan, which costs between $7.50 and $9.99 per month.

In terms of security, Monarch Money employs stringent measures, using read-only data and offering multi-factor authentication to protect users' information. While it stands out for its comprehensive features and user-friendly interface, those looking for free alternatives or more advanced crypto tracking might consider other options. However, for individuals seeking a Mint.com alternative before its shutdown, Monarch Money offers a compelling blend of functionality and ease of use, making it a worthy candidate for managing personal finances.

Read our full Monarch Money Review

4. KOHO

KOHO offers a more comprehensive suite than Mint. At its core, it’s a reloadable Mastercard® that you can use to earn cash back on everyday purchases. It also has a handy app that lets you keep track of your finances in actual time. Essentially, KOHO lets you spend, budget, save, and earn cash back while receiving other perks that come standard with the pre-paid card you choose. It has a free version, KOHO Easy, like many others on this list, but the perks kick up a notch in the paid versions.

Sign up and get a $20 instant cash bonus (once you load your account and make your no minimum first purchase within 30 days) right to your KOHO account with MONEY referral code.

5. Tangerine savings

I’ve been a satisfied Tangerine client (formerly ING Direct) for over 20 years. While the Mint app is mainly a budgeting app, the Tangerine app is so much more.

As mentioned, Mint is a bit lacking in the visual department, an area where the Tangerine app shines. I really like how the interface is clean and easy to use. When I login I’m greeted by a screen that says what I have and what I owe. It’s nice and simple.

The Tangerine app helps you track where your money is going. There’s a pie chart that categorizes your spending, so you don’t have to.

6. Wally

Wally is the world’s first AI-powered personal finance app. In other way, Wally is a lot like Mint. It allows you to sync all of your accounts and automatically tracks them in one convenient place. You’re able to track your account balances in real time. It’s also free like Mint.

Wally’s premium account, known as Wally Gold sends repeat notification which help ensure you never miss a bill payment. Advanced filtering also lets you review your budget with a fine tooth comb, in a lot more detail than you would be able to with Mint.

7. Wealthsimple

Wealthsimple isn’t a budgeting app, per se. It’s an investing app. If you were hoping to replace Mint with an app, this isn’t it. That being said, Wealthsimple does something really well – it helps you better manage your investments.

The Wealthsimple app aims to bring everything you love about the Wealthsimple desktop experience to your mobile device. Through the app you can build an investment portfolio in less than five minutes. With features like automated deposits and portfolio rebalancing, you’re can better keep track of your investing goals.

Apply here and get a $25 cash bonus when you open and fund a new Wealthsimple account with a $500 minimum initial deposit.

What is Mint?

Mint is a free budgeting app that helps you better manage your family’s finances. It lets you consolidate all of your bank accounts, credit card accounts, and other financial accounts, in one convenient location and track your expenses. With Mint you’ll know exactly where you’re saving and investing your hard earned money.

It also offers helpful reminders that mean that you’ll be less likely to forget your bill payments. The dashboard is my favourite part. There, you’ll find a full view of your net worth, including bank accounts, investments and properties. This is perfect for anyone who has a lot of accounts and wants to stay organized.

With the app, you can see a visual representation of your spending and investments and see how they’re doing on a monthly or even weekly basis.

Given that Mint will no longer be available as of January 1st, 2024, we have decided to look at these alternatives that can replace the budgeting support Mint provided to your daily life.

Summary

Getting a budgeting app is a great way to improve and track your finances. Though Mint is still considered a top choice, there are other noteworthy alternatives on the market that will help you get the results you want and the savings you need.

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About our authors: faces of finance

Sean Cooper
Sean Cooper, Freelance Contributor

Sean Cooper is the bestselling author of the book, Burn Your Mortgage: The Simple, Powerful Path to Financial Freedom for Canadians. He bought his first house when he was only 27 in Toronto and paid off his mortgage in just 3 years by age 30. An in-demand Personal Finance Journalist and Speaker, his articles and blogs have been featured in publications such as the Toronto Star, Globe and Mail and Financial Post.

Tyler Wade
Tyler Wade, Content strategist & writer

Tyler Wade has worked in personal finance for over 5 years writing for brands like Ratehub, Forbes, KOHO, and now Money.ca. He was the host and producer of the Real Money Talk podcast. He's the father of two, husband to one, and loves all things tiny.

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